30 Agustus 2018, USD/JPY
Technical observation
USD/JPY broke above a resistance zone 111.51-111.43 with a big green candle and is still above it, I expect a correction to the just broken zone followed by a rejection of it within the zone for possible bullish movements of USD towards 112.15.In case of a breakout above 112.15,wait for a correction to it before you continue long with USD.Right now wait for a retracement to 111.51-111.43 then long the pair on the 4 Hour chart above within it on the second retracement to it just to ensure it is not a false a breakout. Only long positions look ideal and can be recommended on the 4Hour chart above.
Technical levels
Resistance levels
R1.111.27
R2.111.3
R3.111.39
Pivot
111.26
Support levels
S1.111.19
S2.111.14
S3.111.06
Trade signal
Wait for a correction to 111.51-111.43 to buy USD.
Do you know against which currencies JPY is the most profitable?More trading assets here...